Analysts forecast that Flowserve Corp (NYSE:FLS) will announce earnings per share of $0.58 for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Flowserve’s earnings. The highest EPS estimate is $0.62 and the lowest is $0.55. Flowserve posted earnings of $0.50 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 16%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, February 20th.
On average, analysts expect that Flowserve will report full year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.72 to $1.79. For the next fiscal year, analysts anticipate that the company will post earnings of $2.19 per share, with EPS estimates ranging from $2.10 to $2.36. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Flowserve.
A number of brokerages have weighed in on FLS. Zacks Investment Research cut Flowserve from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Credit Suisse Group reiterated a “neutral” rating and issued a $42.00 price objective (down previously from $48.00) on shares of Flowserve in a research note on Thursday, January 3rd. Morgan Stanley cut Flowserve from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, December 18th. Vertical Research upgraded Flowserve from a “sell” rating to a “hold” rating and set a $43.00 price objective for the company in a research note on Friday, December 14th. Finally, ValuEngine cut Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, December 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $48.85.
A number of hedge funds have recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV grew its holdings in Flowserve by 2.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,103 shares of the industrial products company’s stock worth $422,000 after acquiring an additional 240 shares during the period. Daiwa Securities Group Inc. grew its holdings in Flowserve by 8.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,707 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 350 shares during the period. Murphy Pohlad Asset Management LLC grew its holdings in Flowserve by 0.6% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 65,875 shares of the industrial products company’s stock worth $2,504,000 after acquiring an additional 395 shares during the period. Woodstock Corp grew its holdings in Flowserve by 1.3% during the fourth quarter. Woodstock Corp now owns 32,300 shares of the industrial products company’s stock worth $1,228,000 after acquiring an additional 400 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in Flowserve by 5.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 8,413 shares of the industrial products company’s stock worth $320,000 after acquiring an additional 407 shares during the period.
NYSE FLS traded up $0.72 on Wednesday, reaching $46.49. The stock had a trading volume of 925,519 shares, compared to its average volume of 882,305. The company has a current ratio of 2.24, a quick ratio of 1.60 and a debt-to-equity ratio of 0.88. Flowserve has a 12-month low of $35.88 and a 12-month high of $56.86. The stock has a market cap of $5.99 billion, a P/E ratio of 34.18, a P/E/G ratio of 0.99 and a beta of 1.69.
The business also recently declared a quarterly dividend, which was paid on Friday, January 18th. Stockholders of record on Friday, January 4th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, January 3rd. Flowserve’s dividend payout ratio (DPR) is presently 55.88%.
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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